The Ogon - Guangdong Free Trade Zone has attracted 1 Billion US Dollars of Investment from China

According to Nigerian media reports, the Ogun - Guangdong Free Trade Zone (FTZ) in Ogun State, Nigeria, is emerging as a highly anticipated industrial and economic hub. The free trade zone was established in Igbessa, in the Ado-Odo-Ota local government area of the state in 2008. So far, it has attracted about 160 Chinese enterprises to invest more than 1 billion US dollars. Chinese Ambassador to Nigeria Yu Dunhai said that more investors are planning to move in and it is expected that over 100 Chinese investors will come.

Ambassador Yu Dunhai disclosed this information when he met with the Governor of Ogun State, Dabo Abioton, in Abiokuta. He pointed out that Ogun State has currently attracted about 160 Chinese enterprises in this free trade zone, with an investment scale exceeding 1 billion US dollars, and an additional 100 Chinese investors are on their way to the state.

The governor of Ogun State, Dabo Abioton,  took this opportunity to call for establishing partnerships with Chinese investors to jointly develop the state's rich  mineral resources. He emphasized that Ogun State, as a gateway state,  is rich in natural resources and is the largest contributor to Nigeria's non-oil sector. Therefore,  it urgently needs to carry out more coordinated resource exploration cooperation with Chinese investors.

Governor Abioton listed the state's mineral resources, including gold, clay, asphalt, limestone, kaolin, glass sand,  granite, etc. In terms of agriculture, Ogun State is the top producer of cassava, eggs, poultry and fish,  and its fertile land is suitable for growing cocoa, rubber and cashew nuts. In the industrial sector,  this state is the largest cement producer in Nigeria and ranks third in Africa, only after Egypt and Morocco.

We have huge potential for human resources because Ogun State is the education capital of Nigeria,  with more educational institutions than any other state. We look forward to cooperating with Chinese investors in the  field of natural resource exploration,  as currently some Chinese people are colluding with local people to illegally explore our mineral resources and do not  attach importance to environmental protection. Governor Abioton said to the Chinese ambassador.

He recognized the achievements of Chinese investors in the global economy and stated that since his government took  office,  it has been committed to attracting more investors by creating a favorable business environment and promoting  public-private partnerships (PPP) to drive the economic development of the state. To this end,  the state government has established relevant institutions, aiming to simplify business processes,  eliminate bottlenecks, and build a multimodal transport system connecting air, rail and road.

Abioton also mentioned that the state government has built a world-class airport,  which has received commercial flight approval from the Civil Aviation Authority of Nigeria (NCAA). Meanwhile,  the construction of the inland dry port of Cajola has been initiated,  and the deep-water port of Olokora is also in the planning stage.

Chinese Ambassador Yu Dunhai attributed the influx of Chinese investors into Ogun State to the state's favorable  business environment, pleasant climate and the friendly nature of the local people.

Ambassador Yu Dunhai said that the Chinese government encourages Chinese enterprises to go to Nigeria because Nigeria is  the largest market in Africa. These Chinese enterprises have provided job opportunities for local people and made  contributions to Nigeria's manufacturing, trade and investment sectors.

Hafsaat Balewa, the chairperson of the Ogun - Guangdong Free Trade Zone, stated that through this free trade zone,  the Chinese government has made significant contributions to the gross domestic product of Ogun State and even the  entire Nigeria.

The Ogun - Guangdong Free Trade Zone offers numerous advantages to enterprises that are interested in setting up or  expanding their business in Nigeria, including tax incentives, world-class infrastructure,  and convenient local and international market access channels. The free trade zone covers an area of nearly 10,000 hectares and serves as a gateway for manufacturing,  innovation and international trade in West Africa. It is also close to Lagos,  the commercial center of Nigeria. At present, its production activities cover areas such as ceramics and sanitary ware,  television and electronic product assembly, furniture and wood products, automotive batteries and tires